Tuesday, July 7, 2026
ADVT 
National

Unexpected dip in inflation rate in June

Darpan News Desk The Canadian Press, 17 Jul, 2024 03:25 PM
  • Unexpected dip in inflation rate in June

The inflation rate fell to 2.7 per cent in June, but the pace of growth in grocery prices accelerated for the second month in a row.

Statistics Canada reports grocery prices rose 2.1 per cent year-over-year in June, up from May's increase of 1.5 per cent. 

This is the last inflation report before the Bank of Canada's next interest rate decision next Wednesday.

C-I-B-C senior economist Katherine Judge says this morning's data gives the Bank of Canada what it needs in order to cut interest rates.

B-MO macro strategist Benjamin Reitzes predicts it will be a bit of a grind to reach the central bank's target of annual inflation rate of two per cent and doesn't think it will hit that mark before mid-to-late next year.

Canada's annual inflation rate was 2.7 per cent in June, Statistics Canada says. The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets):

— St. John's, N.L.: 2.8 per cent (3.2)

— Charlottetown-Summerside: 3.7 per cent (3.4)

— Halifax: 3.6 per cent (3.8)

— Saint John, N.B.: 2.6 per cent (2.7)

— Quebec City: 2.2 per cent (3.0)

— Montreal: 2.5 per cent (3.2)

— Ottawa: 2.7 per cent (2.7)

— Toronto: 3.4 per cent (3.4)

— Thunder Bay, Ont.: 1.6 per cent (2.2)

— Winnipeg: 1.5 per cent (1.4)

— Regina: 1.4 per cent (1.5)

— Saskatoon: 1.9 per cent (1.5)

— Edmonton: 2.7 per cent (2.8)

— Calgary: 3.6 per cent (3.6)

— Vancouver: 2.3 per cent (3.1)

— Victoria: 2.9 per cent (2.9)

— Whitehorse: 1.9 per cent (2.3)

— Yellowknife: 1.8 per cent (2.6)

— Iqaluit: 1.0 per cent (0.6)

Canada's annual inflation rate was 2.7 per cent in June, Statistics Canada says. Here's what happened in the provinces (previous month in brackets):

— Newfoundland and Labrador: 2.3 per cent (2.6)

— Prince Edward Island: 3.4 per cent (3.2)

— Nova Scotia: 3.5 per cent (3.7)

— New Brunswick: 2.8 per cent (2.9)

— Quebec: 2.2 per cent (3.1)

— Ontario: 3.0 per cent (3.0)

— Manitoba: 1.4 per cent (1.3)

— Saskatchewan: 1.4 per cent (1.5)

— Alberta: 3.0 per cent (3.0)

— British Columbia: 2.6 per cent (2.9)

MORE National ARTICLES

BC gets 5 new Indigenous Justice Centres

BC gets 5 new Indigenous Justice Centres
Premier David Eby says five new Indigenous Justice Centres set up in B-C over the past year will help make the legal system work better for Indigenous people. Eby says a total of nine centres across the province will connect more people with culturally safe legal supports and services.

BC gets 5 new Indigenous Justice Centres

RCMP looking for erratic driver

RCMP looking for erratic driver
The R-C-M-P say they are trying to find a 24-year-old man suspected of driving dangerously through Surrey’s streets during peak traffic hours. Police say officers conducted a traffic stop on a 2017 white Range Rover on September 7th for dangerous driving. 

RCMP looking for erratic driver

Facebook lawsuit settling fee $51M

Facebook lawsuit settling fee $51M
Meta is offering $51 million to settle a class-action lawsuit in four Canadian provinces over the use of some users' images in Facebook advertising.  The legal action filed by a B.C. woman claimed her image and those of others were used without their knowledge in Facebook's "sponsored stories" advertising program, which is no longer in operation.

Facebook lawsuit settling fee $51M

Cold warnings cover much of the West, chilling even the sturdiest Canadians

Cold warnings cover much of the West, chilling even the sturdiest Canadians
Environment Canada's warnings extend into the normally temperate Metro Vancouver and Greater Victoria regions. It said the combination of gusts reaching 60 kilometres an hour and cold temperatures will push wind chill values in Metro Vancouver and Greater Victoria to near -20. The agency warned that temperatures that cold can bring frostbite, and hypothermia can occur within minutes if precautions are not taken when outdoors.

Cold warnings cover much of the West, chilling even the sturdiest Canadians

B.C. police agencies tout rollout of body worn cameras

B.C. police agencies tout rollout of body worn cameras
Police agencies in British Columbia say the introduction of body cameras will improve transparency and lead to more timely resolution of complaints against officers. The B.C. Association of Chiefs of Police and representatives from several departments gathered at RCMP headquarters in Surrey to tout the introduction of the cameras, soon to be worn by thousands of officers in the province and across Canada. 

B.C. police agencies tout rollout of body worn cameras

Former federal NDP leader Ed Broadbent dead at 87

Former federal NDP leader Ed Broadbent dead at 87
Ed Broadbent, a former leader of the federal New Democrats, has died at age 87, says a statement from the institute he founded. More coming.

Former federal NDP leader Ed Broadbent dead at 87